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Individuals who earned income from work, are U.S. citizens or resident aliens, and have a valid Social Security number (SSN), and who fulfill the IRS income limits qualify for the earned income tax credit.
The threshold limit for the earned income tax credit depends on the number of qualifying children and the filing status. For 2024, the threshold limit ranges from $18000 (for single and no child) to $63000 (married and 3+ children).
It depends on the job status of a person in the US. For employees, the EIC is based on gross wages, whereas for self-employed individuals, it is based on the net income after all the business expenses.
The cut-off amount for EIC varies as per the number of children and filing tax status. For instance, if your income is above the stated limit of the IRS for your category, then you are not eligible to claim the tax credit.